The home building market in Canada is expected to remain steady in 2012 and 2013, hitting a range of 164,000 to 212,700 starts this year and 168,900 to 219,300 starts next year, according to Canada Mortgage and Housing Corporation's (CMHC) Housing Market Outlook released today.
The home building market in Canada is expected to remain steady in 2012 and 2013, hitting a range of 164,000 to 212,700 starts this year and 168,900 to 219,300 starts next year, according to Canada Mortgage and Housing Corporation's (CMHC) Housing Market Outlook released today.
"With the Canadian economy set to expand at a moderate pace and mortgage rates expected to remain low, activity levels in 2012 in both new home construction and sales of existing homes will stay close to levels seen in 2011," said Mathieu Laberge, deputy chief economist for CMHC.
Existing home sales should be in the range of 406,000 to 504,500 units in 2012, and in the range of 417,600 to 517,400 units in 2013.
